It is easy to laugh, as many Nigerians are wont to. Because after all, how can a media group owned by the Lion of Bourdilion be facing financial challenges. But this is no laughing matter. And, no, the problems didn’t start with the Muhammadu Buhari government.
The point is, Continental Broadcasting Services, owners of TV Continental and Radio Continental amongst others has always been a badly run business from the days Dele Alake sat atop it. It has hardly turned a profit and it has turned owing salaries into an art form. It has owed for up to a year! No thanks to what appears to be an over-ambitious business model that sought to conquer Africa, while it was yet to solidify in its base country. And all of these on the backs of staff who are treated like they don’t matter.
This spirit, in the media and across Nigeria that businesses don’t need to pay staff because they don’t make a profit is madness. It’s immoral. If your business can’t make a profit shut it down.
Anyway, they have now begun a restructuring that has shut down the TVC News Africa white elephant. But as usual they have treated their staff badly, letting people go without appropriate cushions. And they got mad today.
So the entire enterprise is now issuing silly press releases after the fact.
“The Board of Continental Broadcasting Services Limited (CBS), owners of Television Continental (TVC) and Radio Continental, wishes to confirm a restructuring of its group companies. This restructuring is geared towards repositioning the business for better and greater delivery of its services to audiences and advertisers alike. In line with these changes, we are reconfiguring our workforce as part of the rationale to achieve our objectives.
“145 people will be affected by today’s announcement.
“We wish to make clear that our core channels consisting of TVC News Nigeria, TVC Entertainment and Radio Continental will now become the main focus of our business going forward where we will deliver high-quality news and entertainment programmes to our audiences and advertisers across Nigeria and beyond. The winding down of TVC News Africa will allow us to concentrate on these key areas of our business.
“For those staff members affected by today’s announcement, the Board of CBS has approved a generous severance package in addition to a programme of assistance to enable them to seek new employment.”
How about you did all of that before sh_t hit the fan?